Adding Revenue Streams to Multifamily Properties with Electric Vehicle Charging

REVS Founder & CEO David Aaronson spoke on Multifamily Leadership's Innovation Show podcast. David, having previously spent decades working within real estate, explains how REVS now aims to help the multi-family real estate industry adapt to the surge of electrical vehicles.

In This Episode

Patrick and David discuss the following:

- What car companies are doing in regards to electric cars

- How adding electric vehicle (EV) charging is different for existing properties versus properties that are in development

- How the lifespan of a multifamily property affects how it needs to prepare for the EV shift

- What the percentage of electric cars on a property is likely to be in the next 5, 10, and 20 years

- Why multifamily property owners should be jumping to have EV charging stations installed

- How a property can add another stream of revenue instead of just raising rents to make a return on investment (it’s like adding a gas station onto your property!)

- What types of charging stations make sense for multifamily properties based on their situation

- How many electric vehicles one EV charger could potentially service

- How to easily have your property checked for the feasibility of EV charging based on your electrical infrastructure

- Why not having EV charging stations will hurt in ways you can’t see

- If no one asks about charging stations, it doesn’t mean there’s no demand. It means they’re looking online first

- How having residents pay to charge increases their satisfaction and reduces the number of charging stations needed

- What REVS is doing to prevent EV charging stations from being a burden on the operator’s team

- What the ROI looks like for EV charging stations on a multifamily property